Most used payment methods LatAm

It’s fascinating to see the dynamic shift in payment preferences across Latin America (LATAM), a region with great new payment technology adoption. Here’s a summary of the key trends and indicators published in the Global Payments Report 2024:

E-commerce LatAm:

• Credit Cards: They were the dominant online payment method in LATAM, accounting for 35% of the e-commerce transaction value and leading in five out of six markets in the region.
• Account-to-Account (A2A) Payments: LATAM saw the highest A2A payment penetration globally, with 20% of e-commerce transaction value. Brazil’s Pix system played a significant role, leading to 30% of transaction value in Brazil. Colombia and Peru also saw significant A2A adoption, with services like PSE in Colombia and Yape and PLIN in Peru.
• Post-Pay Services: LATAM had the highest global usage of post-pay, a payment method where consumers receive a voucher online and pay in cash at physical stores. It represented 4% of LATAM’s e-commerce transaction value, with Mexico and Peru having even higher rates due to services like OXXO, 7-Eleven, and PagoEfectivo.